Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

See related article: Dubai police launch 2nd edition of NFTs, see use case for digital assets

Fast facts

  • The provisional approval allows Q9 to offer an approved range of crypto services and products while the Dubai crypto regulator examines its full license application.
  • With VARA’s full operating license, Q9 can extend products and services to qualified investors and financial service providers in the Emirati hub.
  • Q9 intends to establish a regional hub in Dubai.
  • Dubai is becoming a new crypto hub after successfully luring exchanges like Binance, Crypto.com, and FTX to operate legally. 

See related article:  Komainu latest to get Dubai’s approval to operate